Financial Mirror8 Jul 2026

WTI surges above $74 as Trump says Iran deal is over

The benchmark crude West Texas Intermediate (WTI), futures on NYMEX, soared 3.2% to near $74.30 during the European trading session on Wednesday, the highest level in two weeks.

Oil prices surged as the confirmation from US President Donald Trump that the memorandum of understanding (MoU) with Iran, which aimed at ending the war in the Middle East, is over, has revived risks of worldwide energy supply disruption....

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